Bitcoin : Strategy buys 13,927 more BTC

Michael Saylor puts one billion dollars back into bitcoin. Strategy bought 13,927 BTC between April 6 and 12, 2026, bringing its total reserve to 780,897 BTC. Despite volatility and latent losses, the accumulation machine is still running.

One Billion More, and No Sign of Slowing Down

Michael Saylor thus adds 1 billion dollars to his bitcoin empire with a now familiar logic: buy more, even after a stress phase in the market. The average price of this new tranche comes to 71,902 dollars per BTC, for a total of 13,927 additional bitcoins.

This point is not trivial. Strategy’s overall average cost remains higher, at 75,577 dollars per bitcoin. In clear terms, the company took advantage of a price level below its own average acquisition price to strengthen its position, which reflects an assumed strategy of buying on the dip rather than a defensive posture.

The sequence also impresses by its pace. This is the fourth largest week of purchases for Strategy this year. So this is not just a simple cash adjustment, but a new acceleration in an already massive program.

Saylor’s True Weapon is No Longer Just Bitcoin

Perhaps the most revealing aspect is not the volume purchased, but how it was financed. Strategy used the proceeds from sales of STRC shares, its perpetual preferred stock, to fund this new acquisition. The 8-K filing of April 13 leaves little room for doubt on this point.

During the week, the company sold 10,028,363 STRC shares for a notional value of about 1.0028 billion dollars and net proceeds of 1.0013 billion. At the same time, no MSTR shares were sold. This shows that Strategy can still raise capital without activating all its levers at once.

This is where the “empire” takes a very concrete form. Strategy does not just hold a giant stock of bitcoin. It has built a financing mechanism almost dedicated to its expansion. As of April 12, about 21.6 billion dollars were still available under the STRC program and 27.1 billion under the MSTR program.

A Colossus Moving Forward, But With a Visible Flaw

This financial power does not erase the accounting fragility of the model. One week earlier, Strategy had announced the purchase of 4,871 additional BTC for 329.9 million dollars. The group was already increasing its pace, even before this new billion injected into the market.

But the downside exists. In the same April 6 document, the company reported 14.46 billion dollars of latent losses on its digital assets in the first quarter of 2026. It also specified that as of March 31, the fair value of its bitcoins remained below their cost price.

In other words, the strategy remains consistent in its internal logic, but it is not comfortable. It assumes that time and bitcoin’s trajectory will eventually justify the stacking of capital, potential dilution, and dividends related to preferred instruments. This is a strong conviction, not a safe bet.

With 780,897 BTC in reserve, Strategy now accounts for 3.719% of the total bitcoin supply, according to CoinGecko data. The cumulative cost of this position exceeds slightly 59 billion dollars, while its market value remains lower, around 55.5 billion. Such a size profoundly changes the nature of the company. It strikes the mind even more as, at the same time, bitcoin mining companies face major challenges ahead of the next halving.